Press release from Business Wire
Ixia Announces Four-Year $150 Million Revolving Credit Facility
Monday, December 24, 2012
Ixia Announces Four-Year $150 Million Revolving Credit Facility08:30 EST Monday, December 24, 2012
CALABASAS, Calif. (Business Wire) -- Ixia (Nasdaq: XXIA), a provider of test and monitoring solutions that
optimize networks and data centers to accelerate and secure application
delivery, announced today that it has secured a four-year, $150 million
Senior Secured Revolving Credit Facility.
“Ixia's strong execution and enhanced business model allow us to put
this revolving line of credit in place under very favorable terms,” said
Vic Alston, Ixia's president and chief executive officer.
The credit facility includes an accordion option, which allows the
company to increase the size of the facility by up to $50 million under
certain circumstances, extending its total line of credit borrowing
capability to $200 million.
Bank of America Merrill Lynch served as Sole Lead Arranger and Sole Book
Runner, and Bank of America, N.A. acted as the Administrative Agent.
Other participating banks included U.S. Bank National Association,
Silicon Valley Bank, HSBC Bank USA, National Association, Barclays Bank
PLC, Stifel Bank & Trust, and Deutsche Bank Trust Company Americas.
About Ixia
Ixia solutions deliver actionable insight through real-time monitoring,
real-world testing, and rapid assessment. This end-to-end visibility
provides organizations with a complete understanding into user behavior,
security vulnerabilities, network capacity, application performance, and
IT resiliency. From the lab to the network to the cloud, Ixia solutions
enable its customers to optimize networks and data centers to
accelerate, secure, and scale application delivery. For more
information, visit www.ixiacom.com.
Safe Harbor Under the Private Securities Litigation Reform Act of
1995:
Certain statements made in this press release are forward-looking
statements, including, without limitation, statements regarding growth,
profitability, financial performance and future business. In some cases,
such forward-looking statements can be identified by terms such as may,
will, should, expect, plan, believe, estimate, predict or the like. Such
statements reflect our current intent, belief and expectations and are
subject to risks and uncertainties that could cause our actual results
to differ materially from those expressed or implied in the
forward-looking statements. Factors that may cause future results to
differ materially from our current expectations include the risk that
the size of the credit facility will not be increased, the risk that the
anticipated benefits and synergies of our recent acquisitions of Anue
Systems, Inc. and BreakingPoint Systems, Inc. will not be realized,
changes in the global economy, competition, consistency of orders from
significant customers, our success in developing and producing new
products, market acceptance of our products, war, terrorism, political
unrest, natural disasters and other circumstances that could, among
other consequences, adversely affect our pursuit of business
opportunities, reduce the demand for our products, disrupt our supply
chain and/or impact the delivery of our products. Such factors also
include those identified in our Annual Report on Form 10-K for the year
ended December 31, 2011, and in our other filings with the U.S.
Securities and Exchange Commission. We undertake no obligation to update
any forward-looking statements, whether as a result of new information,
future events or otherwise.
The Blueshirt GroupInvestor RelationsMaria Riley,
415-217-7722orIxiaTom Miller, 818-444-2325Chief
Financial Officertmiller@ixiacom.com
